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Early in the American session, EUR/USD is trading around 1.0897 within the downtrend channel forming since October 4th, and below the 21 SMA, reaching the key support of 2/8 Murray around 1.0864.
Technically, the euro is under strong bearish pressure. We believe that a technical correction could occur below 1.0909. So, the price could fall towards the bottom of the bearish trend channel or towards 2/8 of Murray located at 1.0864.
Given that the euro has fallen sharply since the publication of the Non-Farm Payrolls at the beginning of the month, we have not seen a technical correction so far. Therefore, we believe that a technical rebound above 1.0864 will be seen as an opportunity to buy.
On the other hand, if the euro breaks the 21 SMA and consolidates above this area, EUR/USD could reach 1.0986 and even 1.1022. Hence, if the instrument rises above 1.0910, it will be seen as a signal to buy.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।